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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Sources of Income Before Income Taxes Classified Between Domestic And Foreign Entities

The sources of income (loss) from continuing operations, before income taxes, classified between domestic entities and those entities domiciled outside of the United States, are as follows:

						Fiscal Years Ended
(in millions)						March 31, 2025						March 31, 2024						March 31, 2023
Domestic entities						$	(84)					$	53					$	(206)
Entities outside the United States						714						56						(679)
Total						$	630					$	109					$	(885)

Components of Income Tax Provision

The income tax expense (benefit) on income (loss) from continuing operations is comprised of:

						Fiscal Years Ended
(in millions)						March 31, 2025						March 31, 2024						March 31, 2023
Current:
Federal						$	104					$	94					$	96
State						(14)						57						39
Foreign						179						288						155
						269						439						290
Deferred:
Federal						(102)						(186)						(192)
State						(28)						(38)						(47)
Foreign						95						(192)						(370)
						(35)						(416)						(609)
Total income tax expense (benefit)						$	234					$	23					$	(319)

Federal Statutory Tax Rate To Effective Tax Rate Reconciliation

The major elements contributing to the difference between the U.S. federal statutory tax rate and the effective tax rate ("ETR") for continuing operations is below.

						Fiscal Years Ended
						March 31, 2025						March 31, 2024						March 31, 2023
Statutory rate						21.0		%				21.0		%				(21.0)		%
State income tax, net of federal tax						0.3						3.7						(1.4)
Foreign tax rate differential						23.0						(152.3)						(2.3)
Change in valuation allowances						(3.5)						146.8						(1.3)
Income tax and foreign tax credits						(13.3)						(92.7)						(8.0)
Change in uncertain tax positions						(8.3)						—						1.2
Withholding taxes						2.1						58.7						3.5
U.S. tax on foreign income						9.4						35.8						5.8
Excess tax benefit or expense for stock compensation						1.1						(0.9)						0.6
Capitalized transaction costs						—						0.9						0.2
Base erosion and transition taxes						0.3						(26.6)						(9.1)
Impact of business divestitures						0.2						(5.5)						(7.6)
Indemnification costs						0.5						3.7						1.2
Interest on tax receivables						(2.5)						—						—
Tax audits						1.9						22.0						—
Other items, net						4.9						6.5						2.2
Effective tax rate						37.1		%				21.1		%				(36.0)		%

Components of Deferred Tax Assets and Liabilities

The deferred tax assets (liabilities) were as follows:

						As of
(in millions)						March 31, 2025						March 31, 2024
Deferred tax assets
Tax loss/credit carryforwards						2,477						2,535
Accrued interest						19						24
Operating lease liabilities						132						172
Contract accounting						122						127
Depreciation and amortization						252						129
Other assets						310						298
Total deferred tax assets						3,312						3,285
Valuation allowance						(2,242)						(2,264)
Net deferred tax assets						1,070						1,021
Deferred tax liabilities
Operating right-of-use asset						(127)						(161)
Investment basis differences						(10)						(13)
Employee benefits						(82)						(7)
Other liabilities						(133)						(166)
Total deferred tax liabilities						(352)						(347)
Total net deferred tax assets (liabilities)						$	718					$	674

Schedule of Deferred Tax Assets and Liabilities

Income tax related assets are included in the accompanying balance sheets as follows:

						As of
(in millions)						March 31, 2025						March 31, 2024
Current:
Income tax receivables and prepaid taxes						$	43					$	44
						$	43					$	44
Non-current:
Income taxes receivable and prepaid taxes						$	264					$	258
Deferred tax assets						819						804
						$	1,083					$	1,062
Total						$	1,126					$	1,106

Income tax related liabilities are included in the accompanying balance sheet as follows:

						As of
(in millions)						March 31, 2025						March 31, 2024
Current:
Income taxes payable						$	(64)					$	(134)
						$	(64)					$	(134)
Non-current:
Deferred taxes						$	(101)					$	(130)
Income taxes payable						(55)						(32)
Liability for uncertain tax positions						(339)						(394)
						$	(495)					$	(556)
Total						$	(559)					$	(690)

Summary of Operating Loss Carryforwards

The following table provides information on the Company's various tax carryforwards:

						As of March 31, 2025																								As of March 31, 2024
(in millions)						Total						With No Expiration						With Expiration						Expiration Dates Through						Total						With No Expiration						With Expiration						Expiration Dates Through
Net operating loss carryforwards
Federal						$	—					$	—					$	—					N/A						$	62					$	62					$	—					N/A
State						$	332					$	161					$	171					2045						$	387					$	191					$	196					2044
Foreign						$	10,369					$	5,402					$	4,967					2042						$	10,211					$	5,359					$	4,852					2041
Tax credit carryforwards
Federal						$	—					$	—					$	—					0						$	3					$	—					$	3					2044
State						$	5					$	—					$	5					2040						$	5					$	—					$	5					2034
Foreign						$	2					$	—					$	2					2038						$	2					$	—					$	2					2037
Capital loss carryforwards
Federal						$	42					$	42					$	—					N/A						$	42					$	42					$	—					N/A
State						$	47					$	47					$	—					N/A						$	46					$	46					$	—					N/A
Foreign						$	34					$	34					$	—					N/A						$	30					$	30					$	—					N/A

Summary of Tax Credit Carryforwards

The following table provides information on the Company's various tax carryforwards:

						As of March 31, 2025																								As of March 31, 2024
(in millions)						Total						With No Expiration						With Expiration						Expiration Dates Through						Total						With No Expiration						With Expiration						Expiration Dates Through
Net operating loss carryforwards
Federal						$	—					$	—					$	—					N/A						$	62					$	62					$	—					N/A
State						$	332					$	161					$	171					2045						$	387					$	191					$	196					2044
Foreign						$	10,369					$	5,402					$	4,967					2042						$	10,211					$	5,359					$	4,852					2041
Tax credit carryforwards
Federal						$	—					$	—					$	—					0						$	3					$	—					$	3					2044
State						$	5					$	—					$	5					2040						$	5					$	—					$	5					2034
Foreign						$	2					$	—					$	2					2038						$	2					$	—					$	2					2037
Capital loss carryforwards
Federal						$	42					$	42					$	—					N/A						$	42					$	42					$	—					N/A
State						$	47					$	47					$	—					N/A						$	46					$	46					$	—					N/A
Foreign						$	34					$	34					$	—					N/A						$	30					$	30					$	—					N/A

Liabilities For Uncertain Tax Positions

In accordance with ASC 740, the Company’s liability for uncertain tax positions was as follows:

						Fiscal Years Ended
(in millions)						March 31, 2025						March 31, 2024
Tax						$	291					$	361
Interest						117						103
Penalties						3						4
Reduction of receivables						(71)						(72)
Net of tax attributes						(1)						(2)
Total						$	339					$	394

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the activity related to the Company’s uncertain tax positions (excluding interest and penalties and related tax attributes):

						Fiscal Years Ended
(in millions)						March 31, 2025						March 31, 2024						March 31, 2023
Balance at beginning of fiscal year						$	361					$	399					$	422
Gross increases related to prior year tax positions						37						14						31
Gross decreases related to prior year tax positions						(54)						(55)						(17)
Gross increases related to current year tax positions						15						8						8
Gross decreases related to current year tax positions						(12)						—						—
Settlements and statute of limitation expirations						(55)						(5)						(43)
Foreign exchange and others						(1)						—						(2)
Balance at end of fiscal year						$	291					$	361					$	399

Tax Examination Status

A summary of the tax years that remain subject to examination in certain of the Company’s major tax jurisdictions are:

Jurisdiction:						Tax Years that Remain Subject to Examination (Fiscal Year Ending):
Australia						2021 and forward
United States – Federal						2009 and forward
United States – Various States						2009 and forward
Canada						2010 and forward
France						2019 and forward
Germany						2010 and forward
India						2001 and forward
United Kingdom						2018 and forward

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